Falck was looking for a solution that could streamline the month-end closing process. This would be done by introducing standardized controls, establishing automated workflows and by optimizing the balance sheet reconciliation process.
Falck is part of the global organization Falck Group that operates in 44 countries on six continents. Falck operates within four business areas – Emergency, Assistance, Healthcare, and Safety Services. Within Emergency alone, the workforce includes 23,800 rescue officers, nurses, doctors, and other staff.
At Falck’s financial headquarters, month-end closing is an ongoing repetitive process that involves a large group of employees. The tasks related to closing are various and many. A central task is performing balance sheet account reconciliation to ensure that the balance sheet is accurate. However, performing balance sheet account reconciliation is usually very time consuming, and with a large group of employees having to reconcile and review thousands of accounts, the risk of error is significant.
When Falck took on Impero, the primary focus was to streamline the month-end closing. The business object was to reduce the risk of error, reduce the time spent on closing, comply with the company policies and to provide auditors with easy access to all relevant documentation. All month-end controls were standardized, review of workflow was quickly automated and the essential exercise of performing balance sheet reconciliation was moved from spreadsheets to Impero, by utilizing Impero’s smartsheet.
All tasks, including documenting and reviewing balance sheet reconciliation, can be performed without users having to login to Impero, instead tasks are simply sent via email and opened in any browser on any device. Auditors have been provided with access to Impero, and have now one access point to the documentation they need.
To learn more about Falck, please visit www.falck.com